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The increase in the volume of oil imports in China to the record values.

30.11.2017Wednesday November 1st, 2017dev

According to the results of calculations for the first half of 2017, China has overtaken the US in terms of imports of “black gold”. If we take into account the figures, China’s daily figures approached 8.55 barrels, with 8.12 barrels of oil imported by the United States. Already, we can conclude that the “center of gravity” is moving reliably in the world oil market from West to East. The increase in the consumption of raw materials by China will certainly affect the cost of oil, and hence the world economy and the economy of individual countries – oil product exporters. Especially when you consider oil trader Unipec, that has emerged as a leader in the volume of supplies already now.

The increase in the consumption of raw materials in China can easily be explained by the increase in the capacity of processing plants, the opening of new enterprises. Demand for fuel produced in the DPRK within the country itself is not so great. This makes it possible to increase the export of fuel significantly. Sales of diesel fuel and gasoline are now reaching unprecedented levels for China. This state of affairs is extremely unprofitable for competitors, which are South Korea, Singapore and Taiwan, previously holding a leading position in terms of supply.